Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Actuary Job Description

Job Descriptions November 8, 2013

Most graduates are looking for jobs that not only fit the degree they obtained, but also involve the factor of landing a challenging job and working in a challenging environment. For people who have a background in mathematics, business, and statistics, and are also looking for a job that will challenge them, taking a look at the Actuary Job description can be a good idea. It is a job that would both quench your thirst for something challenging and your interest in statistics and mathematics.

What is an Actuary?

An Actuary is a professional who tackles everything related to financial risk. They are professionals who are reliable in forecasting, assessing, planning, and advising on subjects involving future risks whether it is unforeseen or seen. They use their knowledge of the market, economic, and commercial principles in forecasting. Those who are planning to get this job are often employed by insurance companies, investment banks, pension funds, and other related financial companies.

The job of an Actuary entails applying their knowledge and developed interest in graph along with numbers, but using data related to the economic markets. Data is combined with probable trends and other external factors so that a result or forecast can be derived. Through the forecasts made by Actuary professionals, the probable cost of an event happening will be estimated. Their responsibilities also involve assisting insurance companies and clients, from both public and private sectors, in controlling major risks.

Duties and Responsibilities

•Analyze all statistical information obtained to know the estimated rate of accident, sickness, retirement, disability, and mortality.

•Determine the premium rates that are required, including the cash reserves and liabilities, to make sure that future benefits payments will be made.

•Collaborate with claims experts, programmers, underwriters, senior management, and accounts to be able to help companies in developing plans for new business lines or improving their business.

•Create probability tables involving certain events including natural disasters, fire and unemployment rates, using the gathered and analyzed statistical information and related data.

•Design, make reviews, and help in designing insurance, pension plans and annuity. Correspondingly, you will work in determining the soundness of financial plans, along with calculating the exact amount of premiums to be paid.

•Help in determining company policy and explaining technical matters that are complex to the company executives, shareholders, policyholders, public and government officials.

•Help in determining provisions on policy contracts in each kind of insurance.

•Explain to customers whenever there are changes made to the contract provisions.

•Manage credit.

•Provide clients with advice, but only on a contract basis and as a working consultant.

•Provide expertise in managing risks and maximizing returns related to credit offerings and investment products.

•Testify in court or before certain public agencies as an expert witness, when needed.

Showing schools in your area

Matching School Ads
4 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
4 Program(s) Found
  • Ready to earn your business degree? If you identify with at least one of the statements below, GCU could be a good fit for you!
  • I have worked in the business field for a number of years and want to further my education in order to qualify for promotions, leadership positions, and salary increases.
  • I am graduating from high school and am interested in pursuing a career in a business field, but I first need the skills experience.
  • I am interested in a Bachelor's, Master's or Doctoral degree in my specialized business area of focus.
  • I want flexible course offerings, such as the option of 100% online, evening or campus classes.
  • I need a university that provides quality educational offerings through academic excellence and real-world relevance. Does this sound like you? Apply today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Our top-ranking program blends modern business theory with real-world experience
  • Institutionally accredited by SACSCOC with ACBSP graduate business program accreditation
  • High-quality, Christ-centered education with online and select on-campus & evening courses
  • Qualifying bachelor's students can transfer up to 90 credit hours into their degree program
  • 86% of Regent students receive some form of financial aid
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!